Infinity Economics is rolling out smart contracts feature

Infinity Economics is to release smart contracts feature on its platform on May 5 that will symbolize the end of the Core update cycle
03 April 2018   378

Earlier in March Infinity Foundation has released a Feature Roadmap along with the Core update. The roadmap is significant as it tracks the height of its blockchain and upon reaching a certain height a new feature (crowdsourcing, escrow service) is automatically activated for the community. The final step of the roadmap is set to Smart Contracts feature. The height is set at 695,640th block.

According to the project's whitepaper, smart contracts are deemed one of the most promising applications of the blockchain technology. As a bright example, Atomic Cross Chain transactions enable truly decentralized trading between cryptocurrencies. Potentially, it allows a trader to exchange a token for a coin with a mixing service for the sake of privacy and send the coin to a new wallet.

Another application that IEP is eyeing is smart auction. Participants could send money to the contract, and every time a larger bid arrives, the previous gets automatically refunded. Among other applications are autonomous corporations,  gambling, self-mixing and smart properties.

As of the moment of publication, Infinity Economics market parameters are as follows

Average price: $0.013351

Volume (24H): $187,074

'Kodak Miner' Turned Out to be a Scam

KashMiner by Spotlite USA was promoted as Kodak branded bitcoin miner 
17 July 2018   137

The KashMiner bitcoin miner, exhibited at the Kodak stand during the CES technology show in Las Vegas, was in fact a product designed to mislead potential consumers and with a potentially unattainable potential return. This is reported by BBC.

Spotlite USA is licensed by Kodak's lighting division, which allows it to use the famous brand in its products. In January 2018 the company introduced its miner and announced that it intends to lease it. According to its business plan, potential users had to pay a commission before getting the device. It was expected that after depositing $ 3,400, the customer will receive a device that will allow him to easily cover expenses and receive revenue from bitcoin mining.

However the company did not have an official Kodak license to use the brand in the production of mining equipment and initially overstated the indicators of the potential profit of its device, refusing to take into account the growing complexity and costs of bitcoin mining. The advertising materials reported that KashMiner brings $ 375 a month, which, subject to a 2-year contract, would allow the client to receive $ 5,600 of profit after paying a commission. Experts from the industry of cryptocurrency call this offer a scam.

There is no way your magical Kodak miner will make the same $375 every month.
 

Saifedean Ammous

Economist

CEO Spotlite USA Halston Mikail previously reported that he plans to install hundreds of miners at the headquarters of Kodak. According to him, he already managed to place 80 miners there, but the Kodak spokesman denied this information.

While you saw units at CES from our licensee Spotlite, the KashMiner is not a Kodak brand licensed product. Units were not installed at our headquarters.
 

Kodak Spokesman

In a phone call with the BBC, Spotlite's Halston Mikail said the US Securities and Exchange Commission (SEC) had prevented the scheme from going ahead.